Banking Associations Across Malaysia Continue Extension of Repayment Assistance Amidst Movement Control Order 2.0

Banks across Malaysian will continue to provide repayment support to individuals or businesses affected by the current movement control order (MCO 2.0), according to a joint statement issued by the Association of Banks in Malaysia (ABM) and the Association of Islamic Banking and Financial Institutions Malaysia (AIBIM). The assistance which involves the extension of the moratorium will be available only upon request from the respective bank. The statement noted that the extensions are applicable to all targeted repayment assistance schemes that were previously announced.

Specifically, customers or borrowers who have experienced job losses in 2020 or 2021 can apply for payment relief for up to three months, on or before mid-2021. Individuals with jobs, but facing income reductio...